EUR/USD gravitates towards 1.3608/1.3584

Following a shallow spike beyond the 20-day SMA yesterday, EUR/USD is now being pushed further south, where it is going to test formidability of the support at 1.3637/35. Here the currency pair will encounter the weekly PP and the 55-day SMA, but is highly unlikely to stop falling before touching the six-month up-trend support line, which in turn could alleviate some selling pressure.

The current distribution between the long and short positions is the same as yesterday, as five days ago and as the 10-day average, namely 42% to 58%. Speaking of the pending orders 50 pips from the spot, 59% are to buy and 41% of them are to sell the Euro against the U.S. Dollar.